Sun Pharma to acquire DUSA Pharmaceuticals
Sun Pharma will acquire DUSA Pharmaceuticals in a deal worth approximately $230 million.
Sun Pharmaceutical Industries Ltd has entered into a definitive agreement with DUSA Pharmaceuticals under which Sun Pharma will acquire the dermatology company.
A Sun Pharma subsidiary will commence a tender offer for all outstanding common stock of DUSA at a price of $8 per share.
This represents a 38 per cent premium to the closing price of DUSA's stock on November 7th 2012 and brings the total cash value of the transaction to approximately $230 million.
DUSA's board of directors has advised shareholders to tender their shares, with president and chief executive officer Robert Doman insisting that the transaction would bring them "significant value".
"The entire team at DUSA has built an excellent franchise around Levulan PDT (photodynamic therapy) and continues to grow its presence in the dermatology space," he said.
"We are confident that Sun Pharma will build upon the solid foundation our organisation has established in the United States dermatology market to further expand access to Levulan for patients with actinic kerotoses."
Dilip Shanghvi, managing director of India-based Sun Pharma, added that DUSA's business "brings us an entry into dermatological treatment devices, where we see good growth opportunities".
Related News
-
News Updated – Changing abortion pill access according to the US FDA and Supreme Court
After the approval of the medical abortion pill, mifepristone, by the US FDA, states across the USA approach the distribution of the pill differently, some ruling against allowing access to the drug. -
News CPHI North America 2024 – From the Floor
Welcome to Philly! CPHI North America once again graces the Philadelphia Convention Center, 7–9 May 2024. -
News Drug Patent Expiries: a steep cliff or opportunity for innovation?
The pharmaceutical industry faces a patent cliff together in the years leading up to 2030. Learn what this means for drug pricing, their outsourcing partners, and drug innovation of the future. -
News A Day in the Life of a President and Chief Scientific Officer
We are continuing to get to know the people working day-to-day behind the pharma companies shaping the industry, the ones who keep the wheels turning and ultimately bring better healthcare to the population; we are talking to the individuals at the hea... -
News Gerresheimer predicts weight-loss drug deals to account for 4% of yearly growth
Dietmar Siemssen, CEO of German primary packaging manufacturer Gerresheimer, states that approximately 4% of the company’s revenue growth each year to come from deals with drugmakers of weight loss and diabetes products, particularly GLP-1 class ... -
News LEAP-ing into the future of pharma – the CPHI Middle East Vision
On March 6, 2024, the CPHI team hosted the Future of Pharma Forum at LEAP 2024, Saudi Arabia’s premier destination for tech leaders and innovators to meet and collaborate. -
News Informa Markets International Women’s Day Panel Discussion
On March 7, 2024, the Informa Markets Amsterdam office hosted an International Women’s Day Breakfast and Panel Discussion to celebrate the women who drive the B2B events industry forward, including members of the CPHI team. -
News Generics threat to Merck’s Bridion as Hikma seeks pre-patent expiry approval
Merck has disclosed they received notice from Hikma Pharmaceuticals for seeking a pre-patent expiry US FDA approval for Hikma’s generic version of Merck’s Bridion.
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance